Tax Rate

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Tax Rate

The amount of charges imposed by the government upon personal or corporate income, capital gains, gifts, estates, and sales that are within its statutory authority to regulate.

Tax rate schedules are utilized by taxpayers whose taxable incomes exceed certain designated amounts. Separate schedules are provided for married individuals who file jointly, unmarried people who maintain a household, single people, estates, trusts, and married couples who file separate returns.

Cross-references

Income Tax; Taxation.

References in periodicals archive ?

In conclusion, the House Republican plan should be considered a significant reform of the income tax, one that broadens the tax base, lowers marginal tax rates on wages modestly, and reduces marginal tax rates on investment significantly.

Tax reform: Ryan-Brady plan is a better way

The plan would significantly increase marginal tax rates and the cost of capital, which would lead to 9.

From Clinton to Trump: Tax Plans of 6 Presidential Candidates

Marginal tax rates are commonly associated with federal income tax brackets.

The hidden costs of cliff effects in the Internal Revenue Code

2001), Gentry and Hubbard (2000, 2005), Gurley-Calvez and Bruce (2013), and Fossen and Steiner (2009) all obtain evidence of negative effects of marginal tax rates on entrepreneurship or self-employment.

Taxes and entrepreneurship in OECD countries

Padovano and Galli (2002), without making any explicit use of public expenses, also provide empirical results from 23 OECD countries that are in favor of a negative impact of high marginal tax rates on income, while Arm and Koray (2006) within an environment which makes use of general government expenses, find that income taxation initially increases output but, eventually, it leads to lower levels in income in the long-run.

Labor income tax and output in a panel of central and eastern European countries: a long-run perspective

Indeed, the vast literature examining tax rates and economic growth strongly suggests that marginal tax rates and GDP growth rates are negatively related.

Marginal tax rates and U.S. growth: flaws in the 2012 CRS study

by simply multiplying the amount of the exclusion or deduction by the individual's marginal tax rate.

True Value

There is, however, a stronger connection between marginal tax rates

The U.S. deficit/debt problem: a longer-run perspective

Romer and Romer therefore argue that to the extent the changes mattered, it was likely through the incentive effects of changes in marginal tax rates.

The Incentive Effects of Marginal Tax Rates

Given that marginal tax rates are estimated at levels often significantly below the statutory rate, firms should consider their own tax situation in gauging the real cost of a switch from LIFO.

Switching from LIFO: strategies for change

This technique, known as Marginal Tax Rate Analysis, is explained in more detail in the accompanying article titled "Managing Marginal Tax Rates: A Basic Tax Reduction Tool.

Lower your applicable tax rate

The resulting tax system is much less progressive than in the first scenario, as the marginal tax rates for the lowest and highest income groups are 30.